Australia unveils climate-change policy

Australia, the fourth-largest per-capita emitter of greenhouse gases, has unveiled details of its long-awaited climate-change policy which aims to reduce Australia’s carbon emissions by 5 to 15% from 2000 levels by 2020, equating to per capita cuts of 27 to 34%. The scheme covers power generators, transport and oil and gas production, while the agriculture sector will be exempted until 2015. Energy-intensive, exporting industries will receive free permits equal to between 60% and 90% of requirements, depending on a sensitivity ratio. Industries likely to receive 90% free permits include makers of aluminum, cement, iron and steel, lime and silicon, while makers of alumina, petroleum and liquefied natural gas could receive 60% free permits. (December 15, 2008)